Ethereum sweeps range high, eyes $1,970 FVG retest as traders watch $2,110 level and key monthly ascending trendline support.
Ethereum swept its recent range high and cleared visible liquidity before pulling back from local extremes.
The move has shifted attention to whether price may retrace toward $1,970 or continue higher if key support levels remain intact.
Liquidity Sweep Shifts Short-Term Structure
Ethereum moved above the established range high and triggered clustered stop orders resting above resistance.
This liquidity sweep was followed by a reaction lower, as traders locked in profits and volatility increased across lower time frames.
The upside move created a large displacement candle, which altered short-term structure.
After such expansion, traders often wait for clearer confirmation before entering new positions, because rapid price shifts can distort immediate signals.
Market participants are closely watching the 50% wick fill level near $2,110.
Some traders consider this area a potential short zone if a bearish market structure breaks forms on lower time frames, while others remain cautious amid mixed signals.
Fair Value Gap at $1,970 in Focus
During the aggressive rally, Ethereum left a wide fair value gap below current price.
The midpoint of that imbalance is positioned around $1,970, and technical traders frequently monitor such levels for possible retests.
If price retraces into the gap, traders will assess reaction strength and order flow.
A confirmed reversal pattern near $1,970 could attract buyers seeking continuation toward higher levels, provided broader market conditions remain stable.
At the same time, failure to hold that zone may expose Ethereum to deeper consolidation.
Participants are comparing this structure with recent Bitcoin price action, as both assets printed displacement moves and left inefficiencies behind.
Related Reading: Ethereum Price Faces $1.5K Risk After Rejection at Key $2.3K Level
Monthly Trendline Faces Critical Test
On the monthly chart, Ethereum is testing a long-standing ascending trendline that has acted as structural support in prior cycles.
This trendline connects major swing lows and has remained intact through several market phases. Historical data shows that previous successful tests were followed by extended upward trends.
Crypto analyst Trader Tardigrade has pointed to this pattern in recent commentary.
He noted that in 2020 Ethereum held above the same ascending support before entering a sustained rally. He stated that the current test may offer insight into broader market direction.
Ethereum now trades near this higher time frame support while short-term levels at $2,110 and $1,970 remain in focus.
The reaction at the monthly trendline, along with any retest of the fair value gap, is likely to guide trader positioning in the coming sessions.
Source: https://www.livebitcoinnews.com/ethereum-sweeps-range-high-is-a-pullback-to-1970-next/
